UTI Mutual Fund has announced a dividend of 30% in UTI Mastershare, for which the record date is November 10.
UTI Mutual Fund has declared a dividend of 30% (Re.3.00 per unit on a face value of Rs.10/-). in its open-ended equity scheme - UTI Mastershare.
The record date for the dividend is November 10, 2006. All unitholders registered under the dividend option of UTI Mastershare as on November 10, 2006 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend. Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy if any.(Check out - Recent MF Dividends )
UTI Mastershare has a track record of consistent dividend distribution for the last 20 years i.e. since its launch in September 1986. In addition, the scheme has also rewarded its investors with 3 bonuses and 2 rights during this period. The NAV per unit as on November 6, 2006 was Rs.29.74 under the dividend option.
Shri Chandraprakash Padiyar, fund manager of UTI Mastershare said, “The scheme has consistently rewarded its investors year after year since its launch in 1986. The scheme has not missed dividends even during the bearish phases of the market. The scheme is trusted by over 5 lakh investors and has a fund size of over Rs.1900 crore”
"UTI Mastershare is positioned as a highly diversified equity fund, which aims to provide relatively stable and sustainable performance. The scheme intends to maintain a conservative portfolio, with a discipline investment strategy of investing only in fundamentally strong companies.” he added.
UTI Mastershare is an equity-oriented scheme, which was made open end with effect from September 12, 2003. The objective of the scheme is to provide unitholders the benefits of capital appreciation and income distribution through investment in equity/ equity-related instruments, fully convertible bonds/debenture of companies.
Over the last one year, UTI Mastershare has yielded 37.3% as compared to 58.17% given by its benchmark BSE Sensex as on November 7, 2006.
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